Credit Card Lottery Purse Grows
The monthly lottery jackpots for credit card users will be raised, the Finance Ministry said Monday. The government now earmarks 160 million won ($123,000) and the card industry 110 million won monthly for the prizes. The grand prize is 100 million won."The credit card industry has agreed to increase its payments due to the recent growth in the use of credit cards," a ministry official said. Along with the card companies, the National Tax Service and the Financial Supervisory Service approved the higher payouts.
The lottery was started early last year by the tax agency to promote credit card use, which results in more tax revenues.
with the Korea JoongAng Daily
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